SOCAR, Technip Energies ink deal on offshore energy development
Azerbaijan’s State Oil Company SOCAR and Technip Energies have signed a cooperation agreement on offshore sustainable energy development.
The agreement signed last week, envisages the study of sustainability measures in the offshore upstream activities, including CO2 emission reduction, improvement of power efficiency and associated optimization in the total cost of ownership.
Moreover, the cooperation agreement includes the evaluation of a joint pilot project for offshore energy production on a floating wind turbine. The pilot project envisages energy supply for upstream operations in the Caspian Sea.
It should be noted that this would be the first case of offshore wind energy production in Azerbaijan.
“At present, upstream operations in the Caspian Sea mainly use electricity generated from natural gas. Among the main objectives of the pilot project is to determine the prospects for the supply of sustainable energy to the upstream sector of Azerbaijan, reduce natural gas consumption and increase gas exports,” the company stated.
The agreement was signed by SOCAR’s President Rovnag Abdullayev and Technip Italy S.p.A. Board Chairman Marco Villa.
Speaking at the signing ceremony, Abdullayev emphasized that energy efficiency is in the focus of many energy companies and is an important part of SOCAR’s strategic plans. He added that the company’s goal is to reduce operating costs, increase energy efficiency and ensure the sustainability of operations.
“We have had fruitful cooperation with Technip Italy in other areas, such as the modernization of our Azerkimya petrochemical complex. I am confident that the partner company, which is interested in various new areas of cooperation in our country, such as green chemistry, digitalization and sustainable energy development, can succeed in these areas as well,” he said.
It should be noted that in 2021 Technip successfully completed its role in the modernization project of SOCAR Azerkimya, which started back in 2016. Technip Energies operates in 34 countries around the world and provides engineering and construction services in LNG (liquefied gas), hydrogen production, sustainable (green) chemistry, biofuels, decarbonization and other fields.
SOCAR is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate, marketing petroleum and petrochemical products in domestic and international markets, and supplying natural gas to industry and the public in Azerbaijan. The company owns two refineries in Azerbaijan, one in Turkey, as well as networks of petrol stations in Azerbaijan, Turkey, Georgia, Romania and Switzerland.